Sunday Times Rich List 2024: Manchester United co-owner Sir Jim Ratcliffe tops North West list again

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It’s official - the wealthiest man in the North West is leading the charge at Old Trafford.

Manchester United co-owner Sir Jim Ratcliffe has once again been named the richest person in the North West in the Sunday Times Rich List 2024 – with a net worth that’s almost double his closest runner-up.

At £23.519bn, Failsworth-born Sir Jim also ranks as the third richest person nationally – down one place and £6.169bn from last year. This year has seen the largest fall in the number of billionaires in the list’s 36-year history, according to the Sunday Times, dropping from its peak of 177 in 2022 to 165 this year. 

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The full list includes 350 people and families in total. They have a combined wealth of  £795.361 billion, which is more than the annual GDP for Poland. The list includes some famous faces such as Elton John and the Beckhams. 

Reported net worth: £22.01 billionReported net worth: £22.01 billion
Reported net worth: £22.01 billion

Who is Sir Jim Ratcliffe?

The 71-year-old made his fortune as the founder of chemical company Ineos, which he did not start until he was in his forties. Last year, he finally completed his purchase of a 25% stake in Manchester United, almost a year after first expressing interest in the club. He was knighted for services to business in 2018. 

Sir Jim is the only Greater Mancunian to appear in the top five for the North West. The second richest man in the region is Prestonian co-founder of investment company BlueCrest Management, Michael Platt, followed by the Cheshire-based Duke of Westminster, who also tops the North West’s 40 under 40 rich list. Home Bargains founder Tom Morris, from Liverpool, is the fourth richest in the region and Asda owners Mohsin and Zuber Issa, from Blackburn, came in fifth. 

On the 40 under 40 list for the North West there are another three entries with connections to Greater Manchester. Tom and Phil Beahon, behind Manchester-headquartered sportswear brand Castore sit 11th with a wealth of £334million. Former footballer Reece Wabara, who played for Manchester City, Oldham Athletic, Wigan Athletic and and Bolton Wanderers, came in 33rd on £83million as the founder of fashion brand Manière De Voir. Elsewhere, Boltonian brothers Mike and George Heaton came in 34th, having amassed a net worth of £81million with their fashion brand Represent.  

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What is the Sunday Times Rich List and how is it compiled?

The annual Sunday Times Rich List tracks the wealth of the 350 richest people in the country, based on identifiable wealth, including land, property and other assets, or significant shares in publicly quoted companies. The full list is available online via the Sunday Times website and in print on Sunday, May 19.

Robert Watts, compiler of the Sunday Times Rich List, said: “This year’s Sunday Times Rich List suggests Britain’s billionaire boom has come to an end. Many of our home-grown entrepreneurs have seen their fortunes fall and some of the global super rich who came here are moving away. 

“Thousands of British livelihoods rely on the super-rich to some extent. We’ll have to wait and see whether we have now reached peak billionaire, and what that means for our economy. 

“These may be harder times to create wealth, but The Sunday Times Rich List continues to unearth entrepreneurs building fortunes in diverse and often surprising ways. This year’s new entries include people who have made money from artificial intelligence and virtual worlds as well as plumbing supplies and teaching aides.  We know many of our readers find such people, especially those from humbler backgrounds, very inspiring.” 

Full North West top five:

  1. Sir Jim Ratcliffe (£23.519bn)
  2. Michael Platt (£12bn)
  3. The Duke of Westminster and the Grosvenor family (£10.127bn)
  4. Tom Morris and family (£6.673bn)
  5. Mohsin and Zuber Issa (£5bn)

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